Life Insurance industry

6 companies · ₹9.4 L cr · 6 with AI deep dives · Q1FY27 report

Exhibit 2What it costs

55.38x - 66.57x across the panel today

The median name trades at 58.4x, -15.2% against this industry's own 5-year median of 68.8x, and -31.7% against its own peak of 85.4x.

Exhibit 3Structure

₹9.4 L cr

Life Insurance Corporation of India is 54.7% of this industry by market cap. The top 5 are 98.5% and the top 10 are 100%.

large 5mid 16 above ₹500 cr

Exhibit 5Coverage (6 of 6)

Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.

Mcap
₹5.1 L cr
P/E
8.5x
P/B
2.9x
Combined
0.0%
Solvency
0.02x
Rev YoY
+6.7%
Mcap
₹1.7 L cr
P/E
65.4x
P/B
8.9x
Combined
0.0%
Solvency
1.96x
Rev YoY
+19.5%
Mcap
₹1.2 L cr
P/E
58.0x
P/B
6.4x
Combined
0.0%
Solvency
1.85x
Rev YoY
+15.8%
Mcap
₹68,368 cr
P/E
52.2x
P/B
5.0x
Combined
0.0%
Solvency
2.25x
Rev YoY
+14.5%
Mcap
₹51,084 cr
P/E
-
P/B
9.7x
Combined
-
Solvency
-
Rev YoY
-
Mcap
₹14,364 cr
P/E
109.6x
P/B
8.9x
Combined
0.0%
Solvency
1.98x
Rev YoY
-

Exhibit 6What managements said

from this industry's latest earnings calls · as of 2026-06-30
tailwindVNB margin expansion broad-based and material across all covered names6 managements

Every covered insurer reported YoY VNB margin improvement: LICI +360 bps to 21.2% (all-time high), ICICI Prudential +200 bps to 26.7%, Max Life +310 bps to 23.2%, SBI Life at…

  • LICI (FY26): “net VNB has registered a growth of 41.63% on a year-on-year basis to 14,179 crore…
5 more themes from this quarter's earnings calls are locked. A free account opens 3 full reports a quarter: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →

Exhibit 7Outlook

The outlook and what resolves next quarter

Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.

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AppendixThe other 0 companies

1-0
sort: mcap · composite · name